Pope Francis names members of Council for the Economy

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2014-03-08 Vatican Radio

(Vatican Radio) Pope Francis has named the members of the Council for the Economy, which was created with the Motu Proprio “Fidelis dispensator et prudens” on 24 February2014. It is composed of 8 Cardinals and 7 laypeople.

In a statement by the Director of the Holy See Press Office, Rev. Federico Lombardi, SJ, it is noted Cardinals Cipriani Thorne , Napier, Rivera Carrera, Ricard , Hong Ton, Vallini , as well as Cardinal George Pell, the new Prefect of the Secretariat of Economy, were all members of the Council for the Study of Organizational and Economic Problems of the Holy See ( Council of 15) , which has been replaced by the new Council for the Economy. Father Lombardi also points out that Cardinal Marx and Cardinal Pell are both members of the Council of Cardinals for the reform of the Apostolic Constitution Pastor Bonus, and to assist the Holy Father in the governance of the universal Church.

Father Lombardi said the relationship between the Council and the Secretariat for the Economy will be defined by their statutes, and, in any case, the Council is understood to be a body having the authority to act, and is not a mere advisory body of the Secretariat of Economy .

He also said the Motu Proprio “Fidelis dispensator et prudens” requires the Council to represent the universality of the Church, and the different geographical areas represented by the Council reflects this.

Father Lombardi said the establishment of the Council for Economics is a key step towards the consolidation of the existing management structures of the Holy See, which is meant to improve the coordination and supervision of economic and administrative issues.

The Council is now operational, and its first meeting is scheduled for May.

List of Members of the Council for the Economy, along with their biographies

FURTHER BACKGROUND ON THE BIOGRAPHIES OF THE CARDINAL MEMBERSOF THE COUNCIL FOR THE ECONOMYHis Eminence Reinhard Cardinal Marx is the Coordinator of the Council for theEconomy.

He has been Archbishop of Munich and Freising since 2008. Previously he was Bishop ofTrier (2002–2008), Auxiliary Bishop of Paderborn (1996–2001) and Titular Bishop of Petina(1996–2001).Cardinal Marx is a member of the Council of 8 Cardinals.

His Eminence Daniel Cardinal DiNardo has been Archbishop of Galveston-Houston since2006. Before that he was Coadjutor Archbishop of Galveston-Houston (2004-2006), CoadjutorBishop of Galveston-Houston (2004), Bishop of Sioux City (1998-2004) and Coadjutor Bishopof Sioux City (1997-1998).

His Eminence Wilfrid Fox Cardinal Napier has been Archbishop of Durban since 1992.Previously he was Bishop of Kokstad (1981-1992).Cardinal Napier was a member of the former Council of 15 Cardinals for the Study ofOrganizational and Economic Questions of the Apostolic See.

His Eminence Norberto Cardinal Rivera Carrera has been Archbishop of Mexico Citysince 1995. Previously he was Bishop of Tehuacán (1985-1995).Cardinal Rivera Carrera was a member of the former Council of 15 Cardinals for the Studyof Organizational and Economic Questions of the Apostolic See.

His Eminence Juan Luis Cardinal Cipriani Thorne has been Archbishop of Lima since1999. Previously he was Archbishop of Ayacucho (1995-1999), Auxiliary Bishop of Ayacucho(1988-1995) and Titular Bishop of Turuzi (1988-1995).Cardinal Cipriani Thorne was a member of the former Council of 15 Cardinals for the Studyof Organizational and Economic Questions of the Apostolic See.

His Eminence Jean-Pierre Cardinal Ricard has been Archbishop of Bordeaux since 2001.Previously, he was Bishop of Montpellier (1996-2001), Coadjutor Bishop of Montpelli er (1996),Auxiliary Bishop of Grenoble (1993-1996) and Titular Bishop of Pulcheriopolis (1993-1996).Cardinal Ricard was a member of the former Council of 15 Cardinals for the Study ofOrganizational and Economic Questions of the Apostolic See.

His Eminence John Cardinal Tong Hon has been Bishop of Hong Kong since 2009.Previously, he was Coadjutor Bishop of Hong Kong (2008-2009), Auxiliary Bishop of HongKong (1996-2008) and Titular Bishop of Bossa (1996-2008).Cardinal Tong Hon was a member of the former Council of 15 Cardinals for the Study ofOrganizational and Economic Questions of the Apostolic See.His Eminence Agostino Cardinal Vallini has been Vicar General of Rome since 2008.Previously, he was Prefect of the Apostolic Signatura (2004-2008), Bishop of Albano (1999-2004), Auxiliary Bishop of Naples (1989-1999) and Titular Bishop of Tortibulum (1989-1999).Cardinal Vallini was a member of the former Council of 15 Cardinals for the Study ofOrganizational and Economic Questions of the Apostolic See.

FURTHER BACKGROUND ON THE BIOGRAPHIES OF THE LAY MEMBERS OFTHE COUNCIL FOR THE ECONOMY

Joseph F.X. Zahra is an economist and founding partner and Managing Director ofMISCO, the independent consulting group operating in Malta, Italy and Cyprus. He has a wealthof practical Board experience gained from many years of leading organizations in the private andgovernment sectors in both an executive and non-executive Director capacity. He has a longhistory of working effectively with Chairs, Directors and Senior Executives to improve corporateperformance. He has been a consultant and board facilitator in the Corporate World, for over 25years guiding executives in changing the way they do business, using new technologies andbusiness models. He has addressed numerous seminars on industrial development, managerialeconomics, financial services and management all over Europe as well as in North America,consulting companies and organizations, across a diverse range of industries and professions.He is a former director of the Central Bank of Malta and former member of the MonetaryPolicy Committee, former chairman of Bank of Valletta plc., Maltacom plc., and MiddleseaInsurance plc. as well as Chairman of the National Commission for Higher Education. In 2005he was appointed by the Prime Minister of Malta as the Chairman of the National EuroChangeover Committee. In July 2013, Pope Francis appointed him President of the Commissionfor the reforms of the economic and administrative structures of the Holy See. He sits on anumber of boards of directors of both private and listed companies operating in financialservices, oil services, transportation, retailing and accommodation.

Jean-Baptiste de Franssu is Chairman of INCIPIT, an M&A advisory and consulting firm.Up to the end of October 2011 he was Chief Executive Officer of Invesco Europe and a memberof the Invesco Worldwide management committee.Before joining Invesco in 1990, Jean-Baptiste was a Director of Groupe Caisse des Dépôtset Consignations in France, and prior to this a Financial Editor at INVESTIR magazine.Jean-Baptiste is a graduate of the ESC Group Business School in Reims, France and holdsa BA in European Business Administration from Middlesex University in the UK. He also holdsa postgraduate degree in Actuarial Studies from Pierre and Marie Curie University in Paris.In June 2009 he was elected President of the European Fund and Asset ManagementAssociation (EFAMA). His mandate ended in June 2011. Jean-Baptiste was also a member ofthe European Commission's asset management expert group on UCITS regulatory regimeevolution. He was Chairperson of the Think Tank Group on Thought Leadership in AssetManagement that released 3 key publications including one in January 2009 on the keychallenges faced by UCITS post credit crisis, with the support of European commissionerMcGreevy. In 2009 he was Elected European fund industry personality of the year. He has, overthe years, contributed to many publications and seminars on issues relating to regulation andsupervision of asset management activities. Since 2013, Jean-Baptiste has been a member of thePontifical Commission for Reference on the Organization of the Economic-AdministrativeStructure of the Holy See.Jean-Baptiste is non-executive director of TAGES LLP, Carmignac Gestion S.A. andACOFI SCA. He is also a member of various boards of European and US charities. He is marriedwith Hélène de Gerlache de Gomery and they have 4 children.

John F. Kyle retired in 2008 as Vice-President and Treasure of Imperial Oil Limited inCanada after 34 years of service. Born in the United States on January 16, 1943, he is a dualcitizen of Canada and the United States.Dr. Kyle obtained his Ph.D. in economics from the University of Wisconsin in 1971. Earlyin his professional career he taught economics at Northwestern University in Evanston, Illinoisand also at New York University. He moved to Canada in 1976 and joined Imperial Oil wherehe held a number of executive positions with Imperial and its parent company, ExxonMobil Corpprior to becoming Vice President and Treasurer in 1991.Dr. Kyle is a member of the Board of Directors of the Canadian Catholic Bioethics Institutein Toronto, and has been a member of the Council of International Auditors of the Prefecture forthe Economic Affairs of the Holy See since 2005. He was a member of the Finance Council ofthe Archdiocese of Toronto from 1991 to 2005, and a member and chair of the audit committeeof the Board of Catholic Cemeteries of Toronto. He was also a member of the Board ofDirectors of Saint Joseph’s Health Centre in Toronto from 1992 to 2003, and served as BoardChair from 1998 to 2003. From 2003 to 2005 he was a member of the board of directors of TheSt. Joseph's Health Centre Foundation.He and his wife Judith currently divide their time between Naples, Florida, Canada andAlaska.

Enrique Llano Cueto is an Economist from the University of Madrid and a CharteredAccountant.He began his career at Deloitte Haskins and Sells (now Deloitte and Touche) where heserved, during more than fifteen years, audit clients in the industry as well as in the financial,insurance and in the health care sector as director and audit partner. He was elected in 1986member of the Partnership Board until 1988. Between 1988 and 2008, he was audit partner ofKPMG Peat Marwick (now KPMG), responsible for Infrastructure, Government and PublicHealth line of business and lead partner responsible for services rendered worldwide to certainmajor clients in the public and private sectors. He served on the Partnership Board for severalterms.At present, he is an independent adviser to middle size and family business companies. Heis also a former independent director and chairman of the audit committee of NCG Bank SA.Enrique is member of several business associations and of the Spanish Chapter of Club deRoma.Since 2013, Enrique has been a member of the Pontifical Commission for Reference on theOrganization of the Economic- Administrative Structure of the Holy See.

Jochen Messemer, 47 years old, lives in Düsseldorf, Germany. He is a former Partner ofMcKinsey&Company (1993-2003), where he served clients in the Health Care and FinancialService Industry. During that time he has also worked for various institutions of the CatholicChurch in Germany.He has been an International Auditor of the Prefecture for Economic Affairs of the Vaticanand the Holy See since 2009 and a member of the Pontifical Commission for Reference on theOrganization of the Economic-Administrative Structure of the Holy See since 2013.He is a Senior manager with experience in the insurance and health care industry. Since2004 he is working for the ERGO Insurance Group. He was Member of the Board of DKVHealth Insurance Company (2003-2010). Since 2009 he is responsible for the InternationalInsurance Business of ERGO as Chairman of the Board of Ergo International Ltd.He holds a PhD in Economics and an MBA in Business Administration.

Francesco Vermiglio is Full Professor of Business Administration at the University ofMessina since 1987. From 1991 to 2006 he also taught Business Administration and CostAccounting at the University "LUISS Guido Carli" in Rome.His main academic interests lie in accounting, company valuation and corporate socialresponsibility.He is founding member and former chairman of GBS, the national study and research groupthat drafted and maintains the social reporting standards for Italian private companies and PublicAdministrations.He was member of the Executive Committee of the OIC (Organismo Italiano Contabilità),the institution that defines and maintains the Italian Accounting Standards and contributes to thedevelopment of the International Accounting Principles and Standards.In 1968 he was awarded the Chartered Accountant and Chartered Auditor professionaldesignation.He is serving as a consultant on matters related to accounting, company valuation andcorporate finance to various organizations, including several public institutions.He was a board member for several companies and banks including Banco di Sicilia andBank of Valletta (Malta).From 1992 to 2013 he was in the Board of Directors of the Diocesan Institute for the supportof the Clergy of the Dioceses of Messina, Lipari and S. Lucia del Mela (Istituto Diocesano peril Sostentamento Clero delle Diocesi di Messina, Lipari e S. Lucia del Mela).Francesco is member of several scientific associations and author of more than 50 scientificpublications.

George Yeo, age 59, has been the Chairman of Kerry Logistics Network since August 2012.From 1988 to 2011, Mr. Yeo served for 23 years in the Singapore Government, as Ministerof State for Finance, then as Minister for Information and the Arts, Health, Trade and Industry,and Foreign Affairs. Prior to 1988, Mr. Yeo served in various capacities in the Singapore ArmedForces, including Chief-of-Staff of the Air Staff and Director of Joint Operations and Planningin the Defence Ministry, attaining the rank of Brigadier-General.Mr. Yeo chairs the International Advisory Panel of India's Nalanda University, and is amember of the Foundation Board of the World Economic Forum, the Berggruen Institute onGovernance, the Asia-Pacific Advisory Board of Harvard Business School, the InternationalAdvisory Board of IESE Business School, the Economic Development Commission, HongKong.In 2013, Mr. Yeo was appointed a member of the Pontifical Commission for Reference onthe Economic-Administrative Structure of the Holy See. Mr. Yeo has been an independent nonexecutivedirector of AIA Group Limited (a listed company on the Hong Kong Stock Exchangewith stock code 1299) since November 2012. Mr. Yeo was awarded the Philippines’ Order ofSikatuna, India’s Padma Bhushan and Australia’s Honorary Officer of the Order of Australia.Mr. Yeo graduated from Cambridge University in engineering in 1976 and also obtained amaster of business administration degree from Harvard Business School in 1985. In addition, Mr.Yeo was a visiting scholar to Peking University from September to December 2011 and remainsa visiting scholar at the Lee Kuan Yew School of Public Policy.